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Post­ RERA changes made in agreements: survey While 45% of the developers don’t have a proper mechanism for RERA compliance yet, there have been significant changes made to customer and vendor agreements RERA Act is changing the entire landscape of the real estate sector and redefining the process of how real estate sales happen in India. Every stakeholder, right from the government, bankers, private equity to consumers, are unlearning the old ways of operating and aligning to the new systems/processes which are RERA-specific According to Navin Raheja Chairman, FICCI Real Estate Committee, “RERA, which came into force from 1 May 2016, is now seen as one of the most significant reforms in the real estate sector. According to RERA, all the state governments were to put in place the Act’s rules and regulations for their respective states by May 1, 2017. The Government of Karnataka has notified their rules in July 2017.” As per the latest survey on RERA, 45 per cent of the real estate develope…

Trump slaps tariffs, rattles Indian metal firms; JSW asks govt to retaliate Sajjan Jindal, chairman of JSW Steel, however, asked the government to impose similar tariffs on steel made overseas to protect Indian manufacturers Indian metal producers with exposure to Europe and the United States warned of increased costs and lower sales with US President Donald Trump signing on Thursday a proclamation levying a 25 per cent duty on steel imports and 10 per cent on aluminium imports. As soon as Trump signed the proclamation, Tata Steel Europe asked the Dutch government and the European Union to persuade the US not to levy the duty on steel imports. “Time is running out, as the planned charges will take effect in two weeks. Together with our customers, we will urge the American government to make an exception for our products. Since we do not dump steel, our steel does not pose a threat to the national security of the US, and American companies depend on our steel,” said Theo Henrar, CEO of T…

With no fixed targets, GST collection not-so-encouraging: Par panel With no targets fixed, the monthly revenue collections from GST are not encouraging, the frequent revisions in rates has impacted the stability of the new tax system and has adversely impacted the trade and businesses, a Parliamentary panel has observed in its report. "The Committee are constrained to observe the not-so-encouraging monthly revenue collections from GST, which still have not stabilised with frequent changes in rates and issue of notifications every now and then. Further, the Committee are surprised to learn that no GST revenue targets have been fixed by the government," the Standing Committee on Finance headed by Congress leader M Veerappa Moily said in its report tabled in Parliament today. The Committee also observed that the frequent revisions in rates has "no doubt affected the regime stability, with adverse impact on trade and business."States have also reported losses in revenue c…

SEBI takes up 116 cases to probe violation of securities law during FY17-18 Regulator Sebi has taken up as many as 116 cases to probe alleged violation of securities law including market manipulation and price rigging, the government said on Friday. The cases were related to market manipulation, price rigging, insider trading, takeover violations and illegal collective investment schemes, Minister of State for Finance Pon Radhakrishnan said in a written reply to the Lok Sabha. During 2017-18 (till December last year), as many as 116 cases were taken up for investigation compared to 256 in the preceding financial year, 179 in 2015-16 and 135 in 2014-15, the minister noted.Of these cases, a total of 36 matters related to market manipulation and price rigging, illegal CIS (14) and insider trading (9). In a separate reply, Minister of State for Corporate Affairs P P Chaudhary said that Sebi has mandated listed companies to appoint at least one women director.As on March 2017, 1,664 out of 1,…